Smart home company SmartRent (NYSE:SMRT) will be reporting results tomorrow morning. Here's what to expect.
SmartRent missed analysts' revenue expectations by 1.2% last quarter, reporting revenues of $50.49 million, down 22.4% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is SmartRent a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting SmartRent's revenue to decline 3.4% year on year to $51.6 million, a reversal from the 25.9% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SmartRent has missed Wall Street's revenue estimates five times over the last two years.
Looking at SmartRent's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. AMETEK delivered year-on-year revenue growth of 5.4%, missing analysts' expectations by 2.6%, and Vontier reported a revenue decline of 8.9%, falling short of estimates by 6.7%. AMETEK traded down 11.9% following the results while Vontier was also down 15.9%.
Read our full analysis of AMETEK's results here and Vontier's results here.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices flat over the last month. SmartRent is down 28.6% during the same time and is heading into earnings with an average analyst price target of $4.2 (compared to the current share price of $1.67).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.